How to improve your credit before buying a mortgage

by | Sep 2, 2015 | Credit, Mortgages

Reading Time: < 1 minute

Mortgage preparation made simple!
Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your finances before a home purchase, you can ensure a smooth finance process and potentially save thousands on your loan.
Start by checking your credit
To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 750 in order to qualify for most prime loans.
If your credit score is not quite 750, focus your efforts on these 4 things:

  1. Pay bills on time
  2. Reduce your debt balances
  3. Avoid credit new inquiries
  4. Clear negative inaccuracies from your credit profile

It’s possible to improve your credit score quite a bit over a few months. Make sure the information on your profile is correct and fix any problems you discover. Give yourself 30–90 days for correcting inaccuracies.
For an understanding of your credit history, check your credit profile from TransUnion.